Loading...

Australia Post Exchange Rates Compared

In this article we take a look at Australia Post exchange rates and foreign currency services. Getting your travel money from the local Auspost branch is convenient but with a little planning (and ordering online) you can also save money for your next trip abroad.

#Reviews #AUD #Currency-Exchange
Email share     Facebook     LinkedIn    Twitter
Exchange Rates 4.7
Customer Service 2.3
Ease of Use 3.7

Australia Post Exchange Rates – How do they Compare?

Australia Post branches are a one stop shop, providing tons of helpful services to help you prep for an overseas trip. Australia Post provides foreign currency exchange, travel money cards, traveller’s cheques and foreign money transfer to bank accounts or cash pickup. You can also get international travel insurance from Australia Post, international mobile SIMs and they can hold or redirect your mail until you get back from your trip.

Australia Post Currency Exchange Rates vs the Banks

The below live travel money comparison table shows how much you could save on your next travel money purchase by ordering online for Auspost pickup vs the Average Bank Rate. This example shows you the situation where you want to change $AUD 2,000 for foreign cash, note the margins are compared to the current market mid-rate.

 
Travel Money Provider Amount USD(U$) Exchange RateFee AUDDeal Links
Australia Post logo
U$611.70
3.59%
Compare
0.6117$0 BPay, Card 0.72%-1%
ANZ Bank logo
U$608.95
4.03%
U$2.75 less
0.6151A$10
Banks - Average Rate
ANZ Bank logo Commonwealth Bank (CBA) logo St George Bank logo Bank of Melbourne logo BankSA logo
U$604.03
4.8%
U$7.67 less
0.61200
Bank of Melbourne Foreign Currency
Bank of Melbourne logo
U$603.12
4.95%
U$8.58 less
0.6123A$15
BankSA Foreign Currency
BankSA logo
U$603.12
4.95%
U$8.58 less
0.6123A$15
St George Bank logo
U$602.52
5.04%
U$9.18 less
0.6117A$15
Commonwealth Bank (CBA) logo
U$602.42
5.06%
U$9.28 less
0.6085A$10
 
Australia Post: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:$0 BPAY, 0.77% MasterCard debit, 0.94% MasterCard credit, 0.72% Visa debit and 1% Visa credit
Exchange Rate:0.6117 (3.59% from mid-rate)
To Amount (USD) U$611.70
Total Cost:3.59%
Time:8:48 Local
Currency Services:Online order, Branch pickup, $10 fee for orders under $1000
Delivery/Collect:2-3 days
Rating:
 
: 4/5.0
Reviews:
 
ANZ Bank: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:0.6151 (3.06% from mid-rate)
To Amount (USD) U$608.95
Total Cost:4.03%
Time:
Rate Fetched: website - Fri Apr 10 2020 08:03:04 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 3/5.0
Reviews:
 
Banks - Average Rate
Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:
Exchange Rate:0.6031 (4.95% from mid-rate)
To Amount (USD) U$604.03
Total Cost:4.8%
Currency Services:Branch
Delivery/Collect:-
 
Bank of Melbourne: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:0.6123 (3.5% from mid-rate)
To Amount (USD) U$603.12
Total Cost:4.95%
Time:
Rate Fetched: website - 8:48 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
BankSA: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:0.6123 (3.5% from mid-rate)
To Amount (USD) U$603.12
Total Cost:4.95%
Time:
Rate Fetched: website - 8:48 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
: /5.0
Reviews:
 
St George Bank: Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$15 AUD (Minimum fee)
Exchange Rate:0.6117 (3.59% from mid-rate)
To Amount (USD) U$602.52
Total Cost:5.04%
Time:
Rate Fetched: website - 8:48 Local
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1/5.0
Reviews:
 
Commonwealth Bank (CBA): Travel Money AUD→USD
From Amount (AUD)A$1,000
Fee:A$10 AUD (1%)
Exchange Rate:0.6085 (4.1% from mid-rate)
To Amount (USD) U$602.42
Total Cost:5.06%
Time:
Rate Fetched: website - Fri Apr 10 2020 08:02:02 GMT+0000 (UTC)
Currency Services:Branch
Delivery/Collect:-
Rating:
 
: 1.2/5.0
Reviews:
 
Snapshot 04/10/2020 - View latest rates
Auspost currency exchange rates vs bank average
 

Australia Post Exchange Rates – Savings Tip – Order Travel Cash Online for Better Currency Rates

Auspost provides an extensive and convenient branch network for people who prefer to do their foreign exchange in person. This “Australia Post Exchange Rates convenience” comes at a cost with higher exchange rate margins, however, these can be minimised by pre-ordering your foreign cash online for pickup at the Auspost branch or another convenient location.

You can order online currency from various providers to pick up at Australia Post, we recommend ordering from Travelex Online who have some of the best online travel money rates available in Australia. The important thing to know here is that you can get better rates online than available in branch.

To prove this point, the author went to his local AusPost branch to check the Australia Post Exchange Rates available in branch versus ordering online for pick-up at the very same branch.

For this trip, I would need 500 of each US dollars, Euros, British Pounds, NZ Dollars and 50,000 of Japanese Yen.

As you can see from the table below I would save around 3% by ordering online (note exchange rates were valid for 21st July, 2018).

Currency Amount Branch Rate Online Rate Branch Cost Online Cost Online Saving Saving %
USD $500 0.6924 0.7138 $722.14 $700.48 $21.66 3%
EUR €500 0.5852 0.6033 $854.41 $828.78 $25.63 3%
GBP £500 0.5239 0.5401 $954.39 $925.75 $28.63 3%
JPY ¥50,000 75.372 78.5122 $663.38 $636.84 $26.54 4%
NZD $500 1.0223 1.0539 $489.10 $474.43 $14.67 3%
Total $4,698.21 $4,698.21 $129.85 3%
Table showing Online vs In-branch Savings with AusPost
Click on the link below to order your travel money online from Travelex and select to pick up at your foreign cash at your nearest located Auspost branch.

Australia Post Travel Money

Order travel money online

Save money for your trip by ordering your foreign cash online from Travelex, you can still pickup your money in person at any AusPost branch.

Remember at the Travelex checkout you can request free home delivery or to pickup your foreign cash at your local Post Office branch. Note a $10 collection fee applies for Australia Post foreign currency collections or Travelex home delivery orders that are under $AUD1,000.


Sending money abroad with AusPost

Australia Post is an agent for Western Union, as such all the exchange rates and fees you will get from a visit to an Auspost branch to send money overseas will be those of Western Union.

Western Union are really only a good option if you are in a rush or you and/or the recipient do not have bank accounts.

BestExchangeRates recommends:

  • For bank to bank transfers, it is always better to use a FX specialist.
  • Find the best provider and rates with our comparison calculator.
  • Consider much cheaper and better options such as TorFX, OFX and World First.

Order foreign cash online via Travelex for pick-up at your local Auspost branch – Save Time & Money.

 

Further Reading

 

Coronavirus panic drives US dollar strength

Currency rates were extremely volatile last week as the coronavirus situation worsened day by day with various countries implementing ever-tougher measures to stop the spread of the disease.

Last update: 23 Mar, 2020

Coronavirus spread fears linger – USD strong – AUD at 11 year lows

This week the US Dollar was touching three-year highs when valued against a basket of major currencies. The greenback’s traditional role as one of the safe-haven currencies is helped by a domestic economy that is largely immune to the threats of the coronavirus.

Last update: 22 Feb, 2020

Coronavirus unnerves currency markets

The strong start to the year for “risk-on” currencies is already a distant memory.

Posted: 3 Feb, 2020

  

Posted to: Reviews

 

3 Reviews for “Australia Post Exchange Rates Compared”

  1. Avatar Bill says:

    I am giving 5 stars for the exchange rates when ordered Online has recommended here, 2 stars for the customer service in branch (they mean well but foreign exch is not a knowledge strength!) and 5 stars for Ease of use, when order via the Travelex website. I will order this way again, Thx.

    4
  2. Avatar jess says:

    The staff at my local post office just told me to order online! Good rates and easy to use if you order online.

    3.3
  3. Avatar Sophie says:

    Am glad I read this post before I bought currency from Oz Post, the staff were helpful but took a long time to figure out how to use their system to give me an exchange rate. Much easier to order online and less ugly looks from the long queue behind me while I was asking my “silly” questions.

    3.3

Leave your own Review & Ratings:

Your email address will not be published. Required fields are marked *

   

Get a Better FX Deal when you Send and Spend Abroad.

 

Do NOT follow this link or you will be banned from the site!